The U. S. government pays an economist at the U. S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. Which of the following is correct?
a.
The 2006 payment is included in 2006 GDP as government purchases, and the 2007 payment is included in 2007 GDP as government purchases.
b.
The 2006 payment is included in 2006 GDP as government purchases, and the 2007 payment is included in 2007 GDP as government transfer payments.
c.
The 2006 payment is included in 2006 GDP as government purchases, and the 2007 payment is allocated to previous years' GDP according to the amount of work performed by the economist each year.
d.
The 2006 payment is included in 2006 GDP as government purchases, but the 2007 payment is not included in 2007 GDP.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The U. S. government pays an economist at the U. S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Why is the net profit margin expressed as a percentage?
Answers (1)
Which economic system comprises the collective ownership of property?
Answers (1)
The new cereal product development team included a project manager located at headquarters in Chicago, a marketing specialist in the Los Angeles office, and a research and development (R&D) team in Kansas. A. Flattened management hierarchies. B.
Answers (1)
When preparing the report to analyze a proposed quality improvement program, which of the following costs are included in the total costs of undertaking the quality improvement program? A. warranty costs B. sales returns C. cost of rework D.
Answers (1)
For the year ended December 31, 2013, Mason Company has implemented an employee bonus program equal to 7% of Mason's net income, which employees will share equally.
Answers (1)
New Questions in Business
Cecile is an avid cook and enjoys spending time in the kitchen as well as watching shows on the Food Network. She recently remodeled her kitchen and purchased new appliances.
Answers (1)
Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.
Answers (1)
Niles and Marsha adopted an infant boy (a U. S. citizen). They paid $17,500 in 2016 for adoption-related expenses. The adoption was finalized in early 2017. Marsha received $3,600 of employer-provided adoption benefits.
Answers (1)
Explain briefly why professional certification and membership in professional organizations are important.
Answers (1)
Suppose that Omar's marginal utility for each additional cup of coffee is 5.5 utils per cup no matter how many cups he drinks.
Answers (1)